Betting companies in Kenya are making crazy money, and every Kenyan is wondering which procedure to follow in order to register and operate a betting company. Well, there are less than 6 steps to follow before being allowed to operate such a lucrative venture.
Before you start, it’s important to note that owning such a company requires strict measures where customers are highly protected. Any mistake a company commits that impacts negatively on a customer, the company will either be heavily fined or a license be withdrawn.
Here is the procedure of registering such a company
In order to start an online gaming business, you will need the following:
Register your company with the registrar of companies
The first step is to choose a name, do a name search and reserve it at the office of registrar of companies. The best company to register in this case is either partnership or limited.
A professional iGaming software
Obtain a professional gambling software from credible companies.
This is a software that will automatically update on live games, completed games, and games to be played. It is also responsible for fixing odds for the games based on performance history.
The software is highly complex, which is at the same time very expensive to acquire.
A gambling license
A gambling license is required. This license is obtained from the Betting Control and Licensing Board – Kenya, which is responsible for regulating the operations of betting companies in Kenya.
A merchant account
A merchant account is the most important aspect of starting a betting company. This is the account where you deposit huge sums of money to award winners. In Kenya, you need to have at least Ksh20 million in this account.
A dedicated server
A dedicated server is a must because there is a lot of activities that will happen on your site.
Your website can be hosted by Bluehost, Namecheap of Godaddy, which are credible web hosting companies.
A dedicated server is one that you don’t share with anybody.
After fulfilling the requirements, you can start and run your company comfortably.
Finally, a company like Sportpesa makes at least Ksh 400 million a day. This is where you should be in terms of profitability.
